Mufk3
7.9K posts
bid charts like this. i'll do a recap for the lazy degens, and all you need is this post to understand what is $steak so since @Pumpfun dropped the creator rewards updates ; things started going downwards, degens have more incentives to launch (for rewards), and ape less memes / less volume on-chain, why ? well pretty much : "why would i buy this ? i'm just giving fees to the dev". devs had the choice to do something with those fees right ? either buybacks ( $snowball example ) or burns or idk marketing purposes, but these rarely end well, injecting a few $ in a high marketcap with a lot of buyers and sellers barely moves the chart to either side. @steakitfun stepped in a week ago and gave a 2nd breath to devs creator rewards by : TAKING those fees and redirecting them to holders. that looks like an effective solution to creator rewards "issue" basically they have distributed 540 sol since launch (all fees) proportional to your holdings. so, you steak/stake in a contract made by the team to get the fees (you lock it and can unlock it ANYTIME, with no catches). best part : less selling pressure, with volume kicking in, you ROI your initials just from steaking. (as I did) this is a simple solution to a big problem. but wait there is more to it : team made it possible for coins on pumpfun to launch via their plateform (THE COIN STAYS ON PUMP), let say i'm a dev i want to launch a meme and reward my holders. i'll just launch it on @steakitfun (that launches on pump) and i don't get the fees, my holders do. but wait there is more again : 7% of the fees generated will go to $steak holders. now imagine 10, then 100 then 1000 coins launched on steak. (also old coins can migrate), so no excuses left for devs that want to reward their holders. do you see the flywheel factor? do you get it now ?
